Hire Purchase
Are you unsure whether a commercial hire purchase is the right financing vehicle to secure a valuable business asset? Read advice and information from the independent business funding experts.
Hire Purchase
If you wish to purchase an asset and spread the cost over a period of time, you may want to consider hire purchase. Unlike leasing something and having to return it at the end, hire purchase allows you to own the asset outright and upfront without having the money in the bank.
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Hire Purchase Mortgage Finance
Your business may need some new vehicles or machinery, but you may not have the ready funds to buy these right away. Your company can also benefit as you may be able to claim tax relief on the commencement of your hire purchase agreement. Hire purchase can help with the expansion of a company that needs new assets in order to achieve further growth.
The repayments and deposit are flexible depending on your business and there are fixed and variable rates to suit. It is often a cheaper way to secure funding for equipment or vehicles than with another type of loan or an overdraft making it an ideal way to help a business grow. The cost can be spread over a long period of three to five years, and is relatively easy to obtain as there is a lower risk for the lender.
You should take into account that if, for any reason, you are unable to make repayments on time, that the lenders could seize the assets that you have taken on hire purchase. However with careful financial planning this can be avoided. In some situations, the asset your company has purchased may depreciate and lose much of its value, so it's well worth doing a bit of homework beforehand on the assets you're intending to purchase.
Mortgage brokers will help you decide whether hire purchase is for you or whether there are other alternatives, such as leasing or lease-purchase, to fit your company's needs. Our experts will assist you through the entire process. Get in touch to find out more.
Further Reading
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Asset Finance & Working Capital
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Commercial Mortgages
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Property Investment Finance
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Commercial Remortgages
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Semi Commercial Mortgage
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Business Expansion Loans
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Cash Flow Loans
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Invoice Finance
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Partnership Buyout Finance
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Hire Purchase
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Lease Purchase
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Interest Only Commercial Mortgages
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Mortgages For Flats Above Shops
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Mortgaging Land Purchases - Revolution Finance Brokers
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Commercial Property Finance
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Mortgage Interest Rates on Commercial Borrowing
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Commercial Mortgages for Land Investments
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Mortgages for Pub Businesses
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Bridging Loans for Commercial Mortgages
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Commercial Mortgages for Large Investments
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Commercial Mortgages for B&Bs
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The Revolution Guide to Commercial Mortgages
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Choosing a Broker for a Commercial Mortgage
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Remortgaging Commercial Property
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Care Home Commercial Mortgages
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Commercial Mortgages with Bad Credit
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Second Charge Mortgages on Commercial Property
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Buying a Business Through Mortgage Lending
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Deposits Required on Commercial Mortgages
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UK Hotel Mortgages
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Affordability Criteria in Commercial Mortgages
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Pros and Cons of Commercial Mortgages
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Buy to Let Mortgages for Businesses
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Mortgage Terms on Commercial Lending
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Commercial Mortgages for Pharmacies
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Commercial Mortgages for Dental Practices
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Applying for a Large Commercial Mortgage
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